China’s economy was hit hard by the impact of lockdowns. But after a record slump in the first
three months of the year it’s avoided recession.
The world’s second-largest economy’s GDP rose by 3.2 percent in the three months ended
June compared with the same period a year ago, the National Bureau of Statistics said.
China‘s Economy slumped 6.8 percent in the previous quarter – the first such contraction since 1992
according to figures from the National Bureau of Statistics.
“It’s very much a story of government stimulus-led recovery,” Rodrigo Catril, a foreign exchange strategist
at NAB in Sydney Said. “The consumer remains very cautious.”